H&M Luxury Fashion Label Rumor

H&M Rumored to Have Luxury Clothing Label in the Works

br>>> H&M, the Swedish company known 'round the world for its well-priced fast fashion, is said to have a much more luxurious — and much more expensive — line of clothing in the works.

Swedish financial newspaper Dagens Industri reported Friday that the company would expand into new territory with a clothing label designed by Behnaz Aram, the head designer at H&M New Business. The New Business concept oversees brands like Cheap Monday and Cos, which makes the highest-priced clothing the company currently sells — but the new venture is rumored to be "even more expensive and luxurious than Cos," according to the Dagens Industri story.

H&M spokeswoman Charlotta Nemlin told WWD Monday that new ideas are "a natural part of our work. However, there is nothing new that we can [talk] about for the moment."

But if the brand isn't going to create luxury fashion in-house, it certainly aligns itself with designers and brands who do. H&M has collaborated with everyone from Karl Lagerfeld to Marni's Consuelo Castiglioni, and celebrities like Michelle Williams and Kristin Davis have been seen wearing dresses from its Exclusive Conscious collection on the red carpet. H&M's main business isn't in luxury fashion, but adding a luxury line wouldn't be a stretch.